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Last $51.11 USD
Change Today -0.63 / -1.22%
Volume 812.4K
SPR On Other Exchanges
Symbol
Exchange
Munich
As of 8:04 PM 08/31/15 All times are local (Market data is delayed by at least 15 minutes).

spirit aerosystems hold-cl a (SPR) Key Developments

Spirit AeroSystems Holdings, Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended July 02, 2015; Provides Earnings Guidance for the Full Year of 2015

Spirit AeroSystems Holdings, Inc. reported unaudited consolidated earnings results for the second quarter and six months ended July 02, 2015. For the quarter, the company reported net revenues of $1,698.7 million compared to $1,803.3 million a year ago. Operating income was $230.3 million compared to $216.2 million a year ago. Income before income taxes and equity in net income of affiliate was $226.3 million compared to $201.3 million a year ago. Income before equity in net income of affiliate was $154.6 million compared to $143.2 million a year ago. Net income was $154.9 million compared to $143.4 million a year ago. Diluted earnings per share were $1.11 compared to $1.01 million a year ago. Adjusted diluted earnings per share were $1.09 compared to $0.98 a year ago. Cash provided by operating activities was $305 million compared to $165 million a year ago. Capital expenditures were $75 million compared to $37 million a year ago. Free Cash Flow was $230 million compared to $128 million a year ago. For the six months, the company reported net revenues of $3,440.9 million compared to $3,531.8 million a year ago. Operating income was $465.6 million compared to $410.6 million a year ago. Income before income taxes and equity in net income of affiliate was $437.3 million compared to $361.6 million a year ago. Income before equity in net income of affiliate was $336.2 million compared to $296.6 million a year ago. Net income was $336.8 million compared to $297.0 million a year ago. Diluted earnings per share were $2.41 compared to $2.07 million a year ago. Net cash provided by operating activities was $729.0 million compared to $209.5 million a year ago. Purchase of property, plant and equipment was $115.4 million compared to $89.6 million a year ago. Free Cash Flow was $614 million compared to $120 million a year ago. The company provided earnings guidance for the full year of 2015. For the period, the company expects cash provided by operating activities to be in the range of $1,025 million to $1,175 million. Capital expenditures expected to be in the range of $325 million compared to $375 million a year ago. Free cash flow expected to be in the range of $700 million to $800 million. Revenues expected to be in the range of $6.6 billion to $6.7 billion. Fully Diluted Earnings Per Share expected to be in the range of $3.60 to $3.80. Effective tax rate expected to be in the range of 32.0% to 33.0%.

Spirit AeroSystems Plans Acquisitions

Spirit AeroSystems Holdings, Inc. (NYSE:SPR) intends to make acquisitions. Chief Executive Officer Larry Lawson stated that the company would look for possible acquisitions related either to defense or its core commercial aviation business. He stated: "We have a pretty tight definition around that. We're not going to go out and pick up small things and add them to the portfolio just because we can do them." He added that company would likely look to pick up a midsize company instead of multiple small ones. The company would be looking at properties that already had solid contracts in place that Spirit's capabilities could add value to.

Bidders For Spirit AeroSystems' Fabrication Work Talk With Union

Spirit AeroSystems Holdings, Inc.'s (NYSE:SPR) sale of its fabrication work is on a "fast track," its largest union told members at the company. Machinists union representatives met with a bargaining team from Onex Corporation (TSX:OCX) and Advanced Integration Technology, Inc. as Spirit continues working to sell its fabrication unit. Should Onex and AIT be the successful bidders, the new company, to be called Advanced Fabrication, would hire Spirit workers and build a large air-conditioned facility in the Wichita area to take on the work, the Machinists union told members. A team of Onex and AIT are one of the bidders for the work, the union has said. "These negotiations are on a fast track and we will be bargaining hard on your behalf in the next few weeks," Molina said in the memo. "All future negotiations are predicated on the fact that Onex/Advanced Fab is awarded the Asset Purchase Agreement" from Spirit, he said.

Advanced Integration Technology, Onex To Acquire Machining Work From Spirit AeroSystems

Advanced Integration Technology, Inc. and Onex Corporation (TSX:OCX) are in talks with International Association Of Machinists And Aerospace Workers to acquire some fabrication and machining work from Spirit AeroSystems Holdings, Inc. (NYSE:SPR).

Spirit AeroSystems Holdings, Inc. to Report Q2, 2015 Results on Jul 29, 2015

Spirit AeroSystems Holdings, Inc. announced that they will report Q2, 2015 results at 10:00 AM, Central Standard Time on Jul 29, 2015

 

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SPR

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Valuation SPR Industry Range
Price/Earnings 18.2x
Price/Sales 1.1x
Price/Book 3.6x
Price/Cash Flow 18.3x
TEV/Sales 0.8x
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